BANGKOK, Dec 17 — The Industry Ministry believes that the Thai export of halal foods can double if operators meet the halal standard and intensify marketing campaigns.
Speaking on the opportunity of Thai halal food products, Pramote Withayasuk, deputy minister of industry, said that although transnational companies captured 90 per cent of halal food markets, there are still many opportunities for Thai halal foods, especially from small- and medium-sized enterprises, because only one-fifth of the global halal food markets have been penetrated.
He suggested that if Thailand could develop its halal food standard together with Indonesia and Malaysia, which had established the standard for over a decade, its halal food exports could double.
Today Thailand is the world’s 10th largest halal food exporter, but has a market share of only 2.44 per cent.
Mr Pramote quoted Thomson Reuters reporting that last year the value of halal food markets globally stood at US$1.1 trillion and accounted for 16.6 per cent of the value of global food and beverage markets.
In the next five years, the value will increase by 6.9 per cent annually and reach $1.6 trillion in 2018. The Organisation of Islamic Cooperation (OIC) representing 57 Muslim countries imported halal foods valued at $156.6 billion last year.
Imports by eight OIC countries formed as much as 56.7 per cent of the overall import value. The biggest importer in the OIC is Saudi Arabia, followed by Malaysia, Egypt, Indonesia, Iran and the United Arab Emirates.
Thailand still had a small share in the food and beverage markets of these countries, so its export to the destinations could expand greatly if it seriously studied and penetrated the markets, Mr Pramote said.
